India's largest lender deserves a better valuation, says bank chief. The market is starting to agree.
Mumbai, June 21 -- With a loan book of nearly Rs.50 trillion, State Bank of India (SBI) is by far India's largest bank. It has also spawned a clutch of businesses that stand on their own, and some of the bank's bets, such as in the National Stock Exchange of India Ltd, are set to bring in multiples of its initial investment.
In an interview with Mint, Challa Sreenivasulu Setty, SBI's 27th chairman, said the 71-year-old bank is seeing a greater share of young customers and its customer satisfaction scores improving. The state-owned bank's stock has also performed better than that of its private-sector peers, rising 28% since Setty took charge on 28 August 2024, while ICICI Bank Ltd's shares were up 10% and HDFC Bank Ltd's down 5% over the...
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